Question

You want to set up a payout annuity so that you can withdraw $35,000 per year...

You want to set up a payout annuity so that you can withdraw $35,000 per year for a total of 10 years. Assume your account will earn 7% interest annually.

How much do you need in your account at the beginning of the 10-year period?

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

Home nert Page Layout Formulas Data Review View dd-Ins Cut E AutoSum ー E ゴWrap Text General aCopy ▲· 逻锂函Merge & Center. $, % , 弼, Paste B I 프 . 灬 Conditional Format CeInsert Delete Format Formatting as Table Styles2 Clear Sort &Find & Format Painter Clipboard Font Alignment Number Styles Cells Editing LR125 LM LN LO LP LQ LR LS LT LU LV LW LX LY LZ 112 113 114 115 116 IT IS A CASE OF PRESENT VALUE OF ANNUITY EXCEL PMT YEARS RATE 35000 10 7% 118 119 120 121 122 123 124 125 126 127 128 129 130 11 1 トーCALCULATOR ( LOAN OPTIONS | pv, fv, annuity i CAP STRU VALUE PV- 245825.35 [EXCEL PV(LP117,LP116,-LP115)] FORMULA PVA A/r*(1-(1/(1+r)An) PVA-(35000/0.07) (1-(1/(1+0.07)A10)) 245825.35 ANSWER: 245825.35 BOX DILUTION. DOLLAR COST AVG MORTGAGE EXPO Sheet. Sheet2. Shdi 福 130% rences: x261 03:58 27-01-2019

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